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Nigeria - Cereal Grain Products (Including Corn Flakes) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Cereal Grain Products (Including Corn Flakes) 2024
Market Size for Cereal Grain Products (Including Corn Flakes) in Nigeria
The Nigerien market for cereal grain products (including corn flakes) stood at $X in 2023, flattening at the previous year. Overall, consumption recorded a remarkable increase. Over the period under review, the market reached the peak level at $X in 2021; afterwards, it flattened through to 2023.
Production of Cereal Grain Products (Including Corn Flakes) in Nigeria
In value terms, corn flakes and cereal products production stood at $X in 2023 estimated in export price. Overall, production continues to indicate resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; afterwards, it flattened through to 2023.
Exports of Cereal Grain Products (Including Corn Flakes)
Exports from Nigeria
For the third consecutive year, Nigeria recorded growth in overseas shipments of cereal grain products (including corn flakes), which increased by X% to X tons in 2023. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.
In value terms, corn flakes and cereal products exports surged to $X in 2023. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in the near future.
Exports by Country
The United States (X tons), Ghana (X tons) and Canada (X tons) were the main destinations of corn flakes and cereal products exports from Nigeria.
From 2012 to 2023, the biggest increases were recorded for South Africa (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for corn flakes and cereal products exported from Nigeria were Canada ($X), the United States ($X) and the Netherlands ($X), with a combined X% share of total exports. Ghana, Ireland, South Africa and the UK lagged somewhat behind, together accounting for a further X%.
Among the main countries of destination, South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average export price for cereal grain products (including corn flakes) amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price saw a prominent expansion. The export price peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereal Grain Products (Including Corn Flakes)
Imports into Nigeria
In 2023, purchases abroad of cereal grain products (including corn flakes) decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, corn flakes and cereal products imports plummeted to $X in 2023. In general, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then declined markedly in the following year.
Imports by Country
The UK (X tons), China (X tons) and Australia (X tons) were the main suppliers of corn flakes and cereal products imports to Nigeria, with a combined X% share of total imports. Egypt, Belgium, the United States, South Africa, India, France, Italy, Germany and Canada lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the UK ($X), China ($X) and Australia ($X) were the largest corn flakes and cereal products suppliers to Nigeria, with a combined X% share of total imports. Egypt, Belgium, South Africa, the United States, India, France, Italy, Germany and Canada lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average import price for cereal grain products (including corn flakes) amounted to $X per ton, which is down by X% against the previous year. Overall, import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, corn flakes and cereal products import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then reduced remarkably in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for corn flakes and cereal products in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10613333 - Rolled, flaked, hulled, pearled, sliced or kibbled cereal grains (excluding rice)
- Prodcom 10613335 - Germ of cereals, whole, rolled, flaked or ground (excluding rice)
- Prodcom 10613351 - Muesli type preparations based on unroasted cereal flakes
- Prodcom 10613353 - Other prepared foods obtained by the swelling or roasting of cereals
- Prodcom 10613355 - Cereals in grain form, precooked or otherwise prepared (excluding maize)
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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